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eBook Summary:
This eBook underscores the importance of prioritizing third-party risk management (TPRM) in contemporary business practices. It emphasizes that ESG considerations should not be limited to regulatory compliance or corporate social responsibility, but rather, they should be recognized as integral components of a company’s overall risk management strategy.
Comprehensive consideration of ESG principles is critical for sustained growth and long-term success, as they have a direct impact on a company’s valuation. By recognizing ESG principles as fundamental elements of TPRM, companies can effectively manage risks associated with third-party relationships and protect their reputation and financial well-being.
ESG Scrutiny on Supply Chains Demands Strong Governance
The ESG angle has become a primary focus within the realm of risk, placing significant scrutiny on supply chains. To stay on top of the ESG curve, leaders must elevate their supply chain strategy from mere management to strong governance and carefully outlined relationships with third parties. By doing so, they can identify ESG risks within the supply chain and capitalize on opportunities to become more competitive. A strong governance framework can facilitate fair labor practices and sourcing renewable and sustainable materials, allowing businesses to make ESG impacts that ripple down the supply chain.
Find out more by downloading the eBook below.
